The markets are keeping an eye on the RBA’s March meeting minutes for more information about its policies. Last week the RBA kept rates at a record low of 0.1%, citing the Ukraine crisis as a new uncertainty. Also, governor Lowe had previously mentioned that he wants to see a couple more CPIs reports before deciding on rates.
The RBA statement reiterated a dovish message with the Board seemingly prepared to be patient in the near future. After ending its bond-buying scheme last month, the RBA is trying to push back against expectations for an early rate rise. The markets anticipate June as the earliest date for a potential hike.
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